Financing Options

Getting Started

Before you start looking for Financing, please consider the following: Start A Green File A Green File should contain all of your important financial documents. Regardless of the loan type, lenders will need information about you. Make copies of financial statements; bank accounts, investments, credit cards, auto loans, recent pay stubs and two years’ tax […]

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Shop For A Loan

How to Find a Lender Today, lenders can be found through a variety of sources. In addition to calling on ads in the newspaper, you can also find and apply to lenders over the internet, and through referrals from your Lender. We would be happy to suggest lenders we have used successfully, who have proven […]

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Know The Numbers

Credit Report Typically, it costs under $50 to check your credit. With your permission the lender will order a review of your outstanding loans and your repayment history from a third party credit agency. Application / Processing Fee This cost, typically a few hundred dollars, is charged to cover the lender’s work to evaluate your […]

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Get Pre-Approved

Does it Help to be Pre-Qualified by a Lender? The pre-qualification process can be completed fairly quickly, based on less information than is required for getting pre-approved. While it is fast and it does help, a pre-qualification letter is an opinion from a lender of the maximum amount of real estate you can qualify for. […]

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Applications Process

Mortgage Brokers and Lenders: Who Does What? The mortgage broker is the person or company who is your main contact throughout your loan. They are often able to work with a number of lenders, who actually provide the funds for the loan. Typically, the lender pays the mortgage broker a fee for acting as the […]

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Funding

The Signing When the lender is ready to “close” your loan, or “fund” it, your real estate agent and your mortgage broker will have you sign the final loan documents. Signing will typically take place in front of a notary or an escrow officer. Ask your mortgage broker if there is anything you need to […]

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